what s your response to that? well, your analysis was exactly right. that plant didn t close because of the stimulus. it closed because we didn t investigate enough money in infrastructure in the stimulus. you know, you said reverend sharpton that 33% of the stimulus was tax cuts. it was actually 40%. out of $870 billion, and the republicans always like to rail and say, we spent $870 billion! well, actually $350 billion of it was tax cuts. 40%. 40%. so that s number one. we should have had more infrastructure spending. and, in fact, barbara boxer and senator senator inhofe tried to
maybe as high as 12%. so the stimulus did have a positive affect. do you remember how much of that $870 billion of stimulus spending was actually tax cuts? $375 billion. so it s not an -it s not $870 billion of spending in this stimulus bill, it s $375 billion in tax cuts and less than $500 billion in new spending and the new spending did work to keep our unemployment rate down. one of the reasons it didn t is that we didn t spend enough money on infrastructure which clearly is the best producer of well paying jobs that can t be outsourced. governor, one of the first things that the president did in trying to get his arms around the deficit side of it is to threaten to veto any earmarks that come his way and he s already running into problems from senate democrats, harry reid in an interview with our own kelly o donnell just now,
bret: economic news, the latest index in home builder sentiments shows the first up-tick in five months. but builders are still expressing pessimism about the housing market. industrial production fell in september by .2 of a point. the first decrease since the recession ended technically. the dow gained 81. the s&p 500 was up 8-1/2. the nasdaq finished ahead 12. china increased the holding of u.s. treasury debt in august by 2.5% to $870 billion. china is america s largest creditor. japan and britain number two and three boosted their stakes. a judge in britain says he will rule by the end of the year whether president obama s healthcare reform law is constitutional. attorney general argued that congress does not have the authority to require citizens to buy health insurance. the government disappears.